Cohen Investment Advisors LLC Sells 585 Shares of Bank of Nova Scotia (The) $BNS

Cohen Investment Advisors LLC cut its holdings in Bank of Nova Scotia (The) (NYSE:BNS) (TSE:BNS) by 7.7% during the second quarter, Holdings Channel.com reports. The fund owned 7,018 shares of the bank’s stock after selling 585 shares during the period. Cohen Investment Advisors LLC’s holdings in Bank of Nova Scotia were worth $388,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Bayforest Capital Ltd grew its position in shares of Bank of Nova Scotia by 2,005.4% in the 1st quarter. Bayforest Capital Ltd now owns 14,296 shares of the bank’s stock valued at $678,000 after acquiring an additional 13,617 shares during the period. Janney Montgomery Scott LLC increased its position in Bank of Nova Scotia by 4.3% during the 1st quarter. Janney Montgomery Scott LLC now owns 10,801 shares of the bank’s stock worth $512,000 after purchasing an additional 442 shares in the last quarter. Korea Investment CORP grew its holdings in Bank of Nova Scotia by 0.5% during the 1st quarter. Korea Investment CORP now owns 941,286 shares of the bank’s stock worth $44,623,000 after acquiring an additional 5,085 shares during the last quarter. Avanza Fonder AB grew its holdings in Bank of Nova Scotia by 11.5% during the 2nd quarter. Avanza Fonder AB now owns 79,462 shares of the bank’s stock worth $4,392,000 after acquiring an additional 8,169 shares during the last quarter. Finally, Fox Run Management L.L.C. boosted its stake in shares of Bank of Nova Scotia by 146.0% in the 1st quarter. Fox Run Management L.L.C. now owns 12,042 shares of the bank’s stock valued at $571,000 after purchasing an additional 7,146 shares during the last quarter. 49.13% of the stock is currently owned by institutional investors and hedge funds.

Bank of Nova Scotia Trading Down 1.3%

BNS stock opened at $63.35 on Thursday. The company has a market capitalization of $78.60 billion, a PE ratio of 17.03, a price-to-earnings-growth ratio of 1.47 and a beta of 1.16. Bank of Nova Scotia has a one year low of $44.09 and a one year high of $65.52. The company’s 50 day moving average price is $61.16 and its two-hundred day moving average price is $54.95. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.03 and a current ratio of 1.03.

Bank of Nova Scotia (NYSE:BNS) (TSE:BNS) last issued its earnings results on Tuesday, August 26th. The bank reported $1.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.28 by $0.09. The firm had revenue of $6.85 billion for the quarter, compared to analysts’ expectations of $9.29 billion. Bank of Nova Scotia had a net margin of 9.74% and a return on equity of 11.61%. The business’s revenue was up 13.4% on a year-over-year basis. During the same quarter last year, the business earned $1.63 earnings per share. As a group, analysts predict that Bank of Nova Scotia will post 4.91 earnings per share for the current fiscal year.

Analysts Set New Price Targets

BNS has been the topic of a number of research reports. Weiss Ratings reiterated a “buy (b-)” rating on shares of Bank of Nova Scotia in a research report on Wednesday. Wall Street Zen upgraded shares of Bank of Nova Scotia from a “sell” rating to a “hold” rating in a report on Saturday, August 30th. Finally, Royal Bank Of Canada increased their target price on shares of Bank of Nova Scotia from $80.00 to $86.00 and gave the company a “sector perform” rating in a report on Wednesday, August 27th. Five analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $86.00.

Bank of Nova Scotia Profile

The Bank of Nova Scotia provides various banking products and services in Canada, the United States, Mexico, Peru, Chile, Colombia, the Caribbean and Central America, and internationally. It operates through Canadian Banking, International Banking, Global Wealth Management, and Global Banking and Markets segments.